Medtronic (MDT) Operating Margin (2014 - 2026)

Medtronic has disclosed Operating Margin across 13 years of filings, most recently posting 16.24% for Q1 2026.

• Operating Margin for Q1 2026 came in at 16.24%, down 361.0% year-over-year; the trailing twelve-month figure through Jan 2026 was 17.0% (up 21.0% YoY), and the FY2025 annual result was 17.76%, up 186.0% from the prior year.
• Operating Margin came in at 16.24% for Q1 2026 at Medtronic, down from 18.81% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 21.37% in Q1 2022 to a low of 12.26% in Q2 2024.
• The 5-year median for Operating Margin is 18.01% (2023), against an average of 17.58%.
• Across the five-year window, Operating Margin jumped 495 bps in 2022 and tumbled 605 bps in 2024, its largest moves.
• Medtronic's Operating Margin stood at 18.51% in 2022, then dropped by 9 bps to 16.78% in 2023, then increased by 13 bps to 18.98% in 2024, then fell by 1 bps to 18.81% in 2025, then fell by 14 bps to 16.24% in 2026.
• The last three Operating Margin figures came in at 16.24% (Q1 2026), 18.81% (Q4 2025), and 16.85% (Q3 2025), per Business Quant data.